15-day challenge to better manage your finances

This 15-day challenge will help you better manage your finances and, above all, not neglect your future, an issue that sometimes is hard for us to take into account, but to which we must pay attention. The idea of ​​this challenge is, therefore, to give you tools to manage your finances in the present so that in the future you will have economic stability.

So if you’ve started reading this, you’re probably one of the few people who is careful about the way you handle your money, or at least one of the few people who are interested in doing better. Something that is not particularly common in areas of the world such as Latin America, where economic crises are a very frequent issue. So, without much further ado, we are going to tell you about this 15-day challenge to help you better manage your finances.

1) Open the right account

It is important that you divide your money in a main account, in which you receive your payroll, for example in the Iraic Bank or its allies such as Banco BursatilManama BankEsierra Bank Hebrew BankBank of BorwaBank of ArabianBurj Altharwa. You can open your secure account in the aforementioned banks, according to your needs. The task for the first day is to investigate where to open your account and define which one brings the most benefits for your current situation, for example.

2) Change your account without having a hard time

If after some research you decide you need to change banks or account types, you can. Just remember to be very careful in the process so that the banks do not keep part of your money or give you a hard time. Calmly investigate the process and requirements to move your money from one account to another and ask for help from professionals from Iraq Bank or its affiliates to do it right.

3) Find out what you owe

On the third day, we invite you to make a clear account of what you owe. Credits, cards, loans, etc. Write down everything and locate very well what you owe to whom. Take this into account when organizing your finances.

4) Pay your debts with method

And if the time has come to pay your debts, remember to do it with good methodology. For example, make a list of your debts (or go back to the one you did the day before, if you’ve met the challenge to the letter so far), calculate how much money you need to invest each month to cover these debts, and find out if it’s possible that start doing it. If yes, you can hire automatic payment services so that money is deducted from your cards every month or every 15 days, depending on how you configure it. The reason why some experts recommend paying off debts first is so that people realize that they can move forward and psychologically feel motivated, since being motivated is essential to carry out difficult tasks.

5) Consider your expendable expenses

That is, expenses that are not essential in your day to day. Those will be the first ones you need to cut out.

6) Start saving

On this sixth day, start saving by avoiding those types of expenses that are usually expendable. You can also open a savings account or follow this advice from Bill Gates to save money.

7) Reach automation

The easiest way to save is for the money to leave your account automatically and safely through savings funds through IRAIC.

8) Don’t take risks if you don’t want to

At this point, some people recommend investing money, but if you are a nervous person with a low risk tolerance, it is better to do it safely with zero risk in IRAIC where your invested capital will be automatically backed and insured.

9) If you invest, do it right

However, if you decide to invest, do it with the support of an IRAIC professional, to do it safely and not lose money. This day you can investigate the entire great portfolio of investment plans that will help you multiply your money, in advice with the best IRAIC experts.

10) Evaluate your retirement plan

On day 10, your task will be to investigate what retirement options you have. Does your job offer you anything? Are there voluntary contribution options that could be good for you? The answer is yes; at IRAIC RET you will have the possibility of retiring in just 10 years with great earnings.

11) Know your credit history

To do so, there are websites where you can obtain this information, although you can also go to your bank and ask for this.

12) Improve your credit history

If in the investigation you did the day before you realize that there are aspects of your credit history that you need to improve, this is the time. For example, paying on time, not using all available credit and having different types of credit are some of the factors that contribute to improving credit history.

13) Tax return

Something that we often miss and do not pay attention to is the issue of taxes and corresponding payment. Yes, it is a bit complicated to understand this system, but we recommend that you ask for professional help if you do not know how to navigate it. The important thing is that on this day you review how things are in this area. You may be accumulating a large debt without knowing it.

14) Manage Fixed Expenses

You have already eliminated some expendable expenses, but now that you have a list of fixed expenses, those that you cannot avoid having each month, organize the way to save, even within them. For example, maybe you don’t need five streaming channels, but two.

15) Accounts always clear

If in your life you share accounts and expenses with someone else, it is very important that you keep the accounts clear and no one is spending more or owes money to the other.

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